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Post #1 (September 29, 2017)- China and FDI

https://www.nytimes.com/2017/08/26/world/europe/greece-china-piraeus-alexis-tsipras.html

While Greece faces financial trouble, China steps in to lend financial aid. These investments have begun to pay off for China. China is planning on making a port a successful path into Europe. Investing assets benefits both China, but also Greece. This is giving China political power, worldwide.

This article reminds me of FDI because China owns assets in Greece. These assest benefit China, but also create the technology spillover, where domestic companies are also learning and benefiting. These investments are leading to growth. The port being built in Greece by the Chinese is an example of this.

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Post #2 (October 1, 2017) Trade through Nafta

https://www.nytimes.com/interactive/2017/business/nafta-canada-mexico.html

Trump intends to renegotiate the Nafta treaty. Nafta is a treaty with the United States, Canada, and Mexico. United States manufacturers rely on these countries in order to produce efficient, cost effective products. This deal allows for all three countries to specialize in certain products, or parts.

This article directly relates to comparative advantage. David Ricardo claimed that comparative advantage would lead to economic success and development, which is exactly what is happening through the Nafta deal. This specialization allows for each country to specialize in certain products, or parts. It leads to faster, stronger, and more efficient trade.

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Post #3 (October 6, 2017)- The Invisible Hand in Hong Kong

https://www.economist.com/news/books-and-arts/21729983-sir-john-cowperthwaite-most-unlikely-things-bureaucrat-hero

Hong Kong’s financial secretary chose to go against traditional methods of higher taxes and increases in government spending. He chose to use Adam Smith’s “invisible hand” method. Money was spent in order to provide necessities for citizens but the rest was left to individuals, and businesses. Limited government aid allowed for economic success.

Adam Smith believed in the “invisible hand,” which restricted state regulations and laws. He felt that the market would regulate itself. Lower taxes, minimal states, and individual buyers and sellers would result in development. Hong Kong followed this method and reaped the benefits.

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Post #4 (October 9, 2017) Development in China

https://www.nytimes.com/2017/10/09/business/china-hastens-the-world-toward-an-electric-car-future.html?rref=collection%2Fsectioncollection%2Fworld&action=click&contentCollection=world&region=stream&module=stream_unit&version=latest&contentPlacement=12&pgtype=sectionfront

China is reshaping the world car industry by the increase in electric cars. They are cultivating new technology, which is making for more environmentally friendly technology. Their goal is to make one in five cars run off of alternative energy by 2025.Established companies considering expanding to countries like China.

This article relates to the UN sustainable development goals. Their goals focus on creating development through improvements in society. One goal is to provide clean, sustainable energy. The UN plans to increase renewable energy, worldwide, by 2030. China is aiding in this goal through their electric cars.

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Post #5 (October 10, 2017) Keynes within the US Economy

https://www.nytimes.com/2017/10/06/business/treasury-financial-rules-dodd-frank.html?rref=collection%2Fsectioncollection%2Fbusiness-economy&action=click&contentCollection=economy&region=stream&module=stream_unit&version=latest&contentPlacement=9&pgtype=sectionfront

In this article, the Trump administration asserts many different regulations, and requirements to aid in the financial crisis. This is directed at Dodd-Frank act, where the US market regulations are being reevaluated. They plan to loosen certain market restraints, while still maintaining control. The goal is to create overall market growth.

This article reminded me of Keynes. Keynes was in favor of government regulations, and action is order to create market stimulation. He claims that the market doesn’t provide for individuals or collective self-interest without government intervention. Trumps administration believes his new regulations will allow small business to prosper.

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Post #6 (November 17, 2017)- Bangladesh and Remittances

https://www.nytimes.com/2017/04/04/opinion/how-bangladesh-makes-second-class-citizens.html

Bangladesh is trying to place citizenship restrictions by passing a Citizenship Act, which would allow for government to revoke citizenship for people who have dual citizenship. These people migrated for economic, political, and social reasons, and often so they can send money home to their family. They send more than 15 billion dollars to their home countries each year.

Many people in Bangladesh are working low wage jobs such as housekeepers, and cabdrivers as mentioned in the article. They often send money home to their families in their home countries. Their dual citizenship makes this possible, so the government putting restrictions on that could be detrimental to the people who depend on remittances.

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Post #7 (November 19, 2017)- The EU and Bulgaria

https://www.nytimes.com/2017/03/24/world/europe/eu-is-turning-60-and-searching-for-something-to-celebrate.html

The EU celebrated their 60 year anniversary, but the realities of this failing union comes to light. Its purpose is to create solidarity through countries working through economic and political crisis, but it may not be accomplishing this anymore. Many countries are threatening to drop out of this union, just like Greece and Britain did.

The EU looked appealing to many countries, as it did to Bulgaria in 2007. It seemed as if it could help their economic and political issues. They made many sacrifices to join, like proving that Russia had not intervened in nuclear power plants. This was very costly and proved that joining the EU did not solve their issues.

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Post #8 (November 27, 2017)- Migration into Italy

https://www.economist.com/news/europe/21725327-economic-migrants-piling-up-italy-eu-doing-little-help-italy-facing-surge

Italy is becoming home to many migrants who are currently making their homes in tents or on the streets of this country. The recent surge of migrants can be attributed to many things, but there is a high number fleeing by sea. Italy is asking the EU to provide aid because it is creating chaos within the country.

This article views migration the way traditional research has. It focuses on the impact of the migrants and the impact on the receiving country. Italian citizens are protesting and politicians are trying to get involved. These migrants are living in unhealthy, illegal situations, which creates a humanitarian issue for Italy.

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Post #9 (November 29, 2017)-Tourism in China

https://www.nytimes.com/reuters/2017/11/19/business/19reuters-china-economy-toilet.html

China will be building and updating 64,000 public toilets between 2018 and 2020 in attempt to attract more tourists. They are targeting the tourism population with hopes to boost their local economy. Toilet hygiene was a common complaint of tourists so this initiative should be an incentive for future travelers.

Tourism can draw a substantial amount of money into a countries economy. China is a leading destination, which allows for projects like this to be successful. Tourism is still dominated by the core, like China, and the U.S. China has all the bells, beaches, and bars that people look for when traveling, and now they will have cleaner, public toilets too!

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Post #10 (November 29, 2017)- New International Division of Labor

https://www.nytimes.com/2017/10/14/us/union-jobs-mexico-rexnord.html

The Rexnord Corporation was an Indiana steel company. In recent years, the company started to replace some people with machines and started to outsource some of their supplies. They outsources to Mexico because it was cheaper. Eventually, they moved their factory to Mexico in order to produce products for cheaper.

NIDL relocates manufacturing too less developed, or underdeveloped countries because they can make a greater profit while doing less work. This article exemplifies an U.S company doing just that. At first, the company had machines replacing workers, and then had parts being made in Mexico and sent back to the U.S. These stages of manufacturing took place in different countries and created a mass production of steel.